Prices of Praseodymium and Neodymium - December 13, 2023

The overall pricing in the Chinese rare earth market is relatively chaotic, with a variety of uncertainties influencing the attitudes of light and heavy rare earth suppliers differently. 

This is mainly reflected in the fact that the prices of praseodymium and neodymium have not yet stabilized and have experienced a significant decline, while dysprosium and terbium suppliers are holding firm and exploring price increases.

On the supply side, although some rare earth production enterprises in Guangxi and Jiangxi have reduced their output, the market's spot supply is relatively sufficient due to limited downstream demand and increased production in Fujian, Inner Mongolia, and Zhejiang. On the demand side, recent consumers are primarily driven by rigid demand. However, in the long term, the rapid development of downstream industries such as new energy vehicles, wind power generation, and smart home appliances is expected to significantly increase the demand for rare earth raw materials.

In terms of news, data from the Ministry of Industry and Information Technology shows that in November 2023, China's automobile production and sales reached 3.093 million and 2.97 million units, respectively, with year-on-year growth of 29.4% and 27.4%. Among them, the production and sales of new energy vehicles reached 1.074 million and 1.026 million units, respectively, with year-on-year growth of 39.2% and 30%. In November, China's automobile exports totaled 482,000 units, a year-on-year increase of 46.3%, including the export of 97,000 new energy vehicles, with a year-on-year increase of 1.6%.

Prices of rare earth products on December 13, 2023

Picture of erbium oxide

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